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on the fiscal cliff. judge andrew napolitano. fox news senior judicial analyst. juan williams, columnist with tannehill. byron york from the "washington examiner." judge, what do you make of this? we had back and forth and we talk about this every day. every day there are developments. >> the president insistence on raising tax rate is reprehensible and violates economics 101. raising tax rates will not necessarily produce more revenue. the president is more interested to punish the rich and perceived reward for base. doesn't put more money in the federal treasury. the republicans give in to this in spirit of compromise, i respect alan simpson. but this is a time for the republicans to say no to spending no, borrowing. no to taxes. do you any any republicans sent to congress to facilitate the president spending to us oblivion? they no. or they will be sent home. >> president feels like he was elected on a campaign where he mentioned on the stump many times, raising tax rates. >> i understand that. >> but under our system the congress writes the law and president
on the fiscal cliff. judge andrew napolitano. fox news senior judicial analyst. juan williams, columnist with tannehill. byron york from the "washington examiner." judge, what do you make of this? we had back and forth and we talk about this every day. every day there are developments. >> the president insistence on raising tax rate is reprehensible and violates economics 101. raising tax rates will not necessarily produce more revenue. the president is more interested to punish...
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president obama has the leverage in the fiscal cliff fight. he's willing to let the tax go up on the middle class. on the debt increase he doesn't have the same leverage. bob woodward pointed out that tim geithner said to president obama if the republicans stick to their guns on the debt limit bill you cannot reto it. the consequences will be so clam to us that you cannot veto it. so obama would have capitulated. megyn: that's what simon is saying now. that we shouldn't put the country in that position. >> the only way we'll get action on this debt. we keep spending and spending and raising our debt by $6 trillion every obama term. that's what catastrophic. the republicans need to stick to the boehner rule. a dollar of spending cuts for every dollar in spending increases. why give in on taxes and the fiscal cliff fight when you will have all the leverage. megyn: simon? >> in the rasmussen poll that came out today the republicans lost 10 points since the election in the congressional generic fight. they are losing this economic argument right n
president obama has the leverage in the fiscal cliff fight. he's willing to let the tax go up on the middle class. on the debt increase he doesn't have the same leverage. bob woodward pointed out that tim geithner said to president obama if the republicans stick to their guns on the debt limit bill you cannot reto it. the consequences will be so clam to us that you cannot veto it. so obama would have capitulated. megyn: that's what simon is saying now. that we shouldn't put the country in that...
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Dec 9, 2012
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, reform some entitlements to avoid this bad situation which we're calling the fiscal cliff, when you have automatic tax increases and spending cuts, but as we, you know, the time goes, it's been three weeks since the election, i'm growing increasingly pessimistic. >> we're been talking about it on the show, chris, and brought up a couple of times that the president, if he does nothing, the tax cuts expire, and the defense cuts go into place, which is largely what the democrats want to have happened and republicans now making the argument. perhaps the president is not going to negotiate because he wants to simply step back and want things to unfold. do you buy that. i think he does want to compromise because if this were to go on long enough. i don't think it happens the first week after the fiscal cliff, but if you continue with this and all of the things that happen, all of the bush tax cuts expire, not only on the rich, but also the middle class, the spending cuts, about 100 million in the first year, you could grow according to the congressional budget office or unemployment back
, reform some entitlements to avoid this bad situation which we're calling the fiscal cliff, when you have automatic tax increases and spending cuts, but as we, you know, the time goes, it's been three weeks since the election, i'm growing increasingly pessimistic. >> we're been talking about it on the show, chris, and brought up a couple of times that the president, if he does nothing, the tax cuts expire, and the defense cuts go into place, which is largely what the democrats want to...
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time for the fiscal cliff update. we have not fallen over the ships but it is a few days away. no word of any progress. no compromise from either side. all with spending cuts and expiring tax credits. today, president obama pushed his proposed fix saying a deal must include higher tax rates. republicans say that is a job killer. they is said that forever. they let go of that, meeting at the white house yesterday. neither side will give any details about the conversation between president obama and speaker boehner. wendell, is there any time left to get this done? >>reporter: well, folks think there is time for enough of a deal but stopped short of a fiscal cliff but some think that has to happen this week. at a daimler truck stop the president didn't mention the upper income tax hike he is demanding but warned what will happen if congress doesn't extend the middle-class tax cuts both sides want. >> people will spend nearly $200 billion less than otherwise they would spend. consumer spending will go down. that means you have less customers, businesses get fewer profits, they hir
time for the fiscal cliff update. we have not fallen over the ships but it is a few days away. no word of any progress. no compromise from either side. all with spending cuts and expiring tax credits. today, president obama pushed his proposed fix saying a deal must include higher tax rates. republicans say that is a job killer. they is said that forever. they let go of that, meeting at the white house yesterday. neither side will give any details about the conversation between president obama...
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and tax issues on the table and the so-called cliff, fiscal cliff, he also wants to deal with raising the debt ceiling which caused so much controversy a year and a half ago. take a listen to the president today. >> if congress in any way suggests they are going to tie negotiations to debt ceiling votes, and take us to the brink of default once again, as part of a budget negotiation which by the way we have never done in our history until we did it last year, i will not play that game. >> now, republics may not want to include the debt ceiling extension lifting that ceiling in these negotiations because the ceiling doesn't need to be lifted for a couple more months. if they come back next year and deal with that part of this, they might have more leverage as we get closer and closer to that deadline to force the president into more spending cuts than he wants right now, harris. >> harris: well, editor all those americans wondering and watching rights now, 27 days, how close are we. we heard the speaker say he is waiting to hear back from the white house. i would think that would be in
and tax issues on the table and the so-called cliff, fiscal cliff, he also wants to deal with raising the debt ceiling which caused so much controversy a year and a half ago. take a listen to the president today. >> if congress in any way suggests they are going to tie negotiations to debt ceiling votes, and take us to the brink of default once again, as part of a budget negotiation which by the way we have never done in our history until we did it last year, i will not play that game....
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the clock particulars towards that fiscal cliff deadline on january 11. mike emanuel is live. we are still getting hard lines from either side about where they stand on this. what is really happening behind the closed doors? are they closer to a dole? >> reporter: jenna you're right about a lot of tough talk in public, but behind closed doors we know the president, the speaker of the house john boehner had a phone call late yesterday, the first call they had in a week. there has not been much in the way of leaks as to what was discussed. most folks on capitol hill may suggest that no leaks means they are getting down to serious movement on finding a compromise to avert the fiscal cliff. because in public the treasury secretary was asked yesterday if the administration is prepared to go over the fiscal cliff. check this out. >> is the administration prepared to go over the fiscal cliff. >> absolutely. we see no prospects for an agreement that doesn't involve those rates going up on the top 2% of the wealthist. remember it's only 2%. >> reporter: most peopl
the clock particulars towards that fiscal cliff deadline on january 11. mike emanuel is live. we are still getting hard lines from either side about where they stand on this. what is really happening behind the closed doors? are they closer to a dole? >> reporter: jenna you're right about a lot of tough talk in public, but behind closed doors we know the president, the speaker of the house john boehner had a phone call late yesterday, the first call they had in a week. there has not been...
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. >> still to come on america's news headquarters, fiscal cliff fiasco. enough about tax rates going up, the outrageous thing virtually no one's talking about is our spending problem. america is $16 trillion in debt and counting. how much does each american -- you! owe? we'll break it dowfnlt regulation nation. the federal government wants to take away people's homes, tear them down and plant grass, all in the name of environmental cleanup. democrats and robberies robberie joined forces to fight back. >> isn't there anyone who know what is christmas is all about? >> everyone loves charlie brown, right? not so fast. the beloved cartoon character is caught up in a war on christmas. i gave birth to my daughter on may 18th, five days later, i had a massive heart attack. bayer aspirin was the first thing the emts gave me. now, i'm on a bayer aspirin regimen. [ male announcer ] be sure to talk to your doctor before you begin an aspirin regimen. [ woman ] learn from my story. >> the holidays are a time for giving and a perfect time to remember those who have hel
. >> still to come on america's news headquarters, fiscal cliff fiasco. enough about tax rates going up, the outrageous thing virtually no one's talking about is our spending problem. america is $16 trillion in debt and counting. how much does each american -- you! owe? we'll break it dowfnlt regulation nation. the federal government wants to take away people's homes, tear them down and plant grass, all in the name of environmental cleanup. democrats and robberies robberie joined forces...
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regardless of what happens in this immediate negotiation to avoid the so-called fiscal cliff and the reason is this. for a longtime, martha, we were able to increase entitlement benefits, keep taxes relatively low, because the economy, over time, grew fast enough to produce enough revenue to mean that we could kind of have it both ways. those day, at least for now, appear to be over. and we are increasingly borrowing to cover our governmental expenses and our entitlement state and all the rest of it. and it's an unsustainable debt burden. how hard it hits us is a matter of some debate or how soon. at this point we will not be able to go on like this. this sort of model if you could call it that is broken and it's going to mean there is a long struggle here to finance the government and get control of the debt, and i don't see it ending any time soon regardless of what happens here. martha: a lot of people talk about leadership and what they see as a lack of leadership on the president's part in this issue. i spoke a little while ago with senator lindsey graham and he said that the pr
regardless of what happens in this immediate negotiation to avoid the so-called fiscal cliff and the reason is this. for a longtime, martha, we were able to increase entitlement benefits, keep taxes relatively low, because the economy, over time, grew fast enough to produce enough revenue to mean that we could kind of have it both ways. those day, at least for now, appear to be over. and we are increasingly borrowing to cover our governmental expenses and our entitlement state and all the rest...